2018.02.05 CC Packet - Laserfiche WebLink

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5.2 Funding Funding for the project will be provided through assessments to benefiting properties, City Street Funds, and the City's Municipal State Aid Funds. Grant funding, if available, will be pursued for the project during final design. The proposed funding is outlined as follows: Oneka Lake Boulevard and Harrow Avenue Street Improvement Project Street Reclamation at Existing Widths — Funding Assessments CIP/State Aid Funds Total Funding Street Improvements $166,000 $908,000 $1,074,000 Drainage Improvements $0 $106,000 $106,000 TOTAL $166,000 $1,014,000 $1,180,000 Oneka Lake Boulevard and Harrow Avenue Street Improvement Project Alternate 1: Street Reclamation and Widening — Funding Assessments CIP/State Aid Funds Total Funding Street Improvements $166,000 $1,018,000 $1,184,000 Drainage Improvements $0 $106,000 $106,000 TOTAL $166,000 $1,124,000 $1,290,000 Oneka Lake Boulevard and Harrow Avenue Street Improvement Project Alternate 2: Utility Extension — Funding Assessments City Utility Fund Total Funding Watermain Improvements $122,000 $18,000 $140,000 Sanitary Improvements $154,000 $0 $154,000 TOTAL $276,000 $18,000 $294,000 5.3 Preliminary Assessment Roll Assessments will be levied to the benefiting properties as outlined in Minnesota Statute 429 and the City's Assessment Policy. A detailed preliminary assessment roll is included in Appendix C. The assessment rate for roadway reclamation projects is as follows: ■ Rural Roadway Reclamation $3,400/unit Properties with footage adjacent to two roadways, will be assessed only for 1/2 of a unit per street. If only one of the roadways adjacent to a property is being reclaimed, the total assessment will be only 1/2 of a unit at this time. Similarly, properties with footage adjacent to three roadways, will be assessed 1/3 of a unit per street. If only one street is being reclaimed, the total assessment will be only 1/3 of a unit. The watermain and sanitary sewer costs will be fully assessed to the benefiting property owners for the proposed utility lines that serve their property. The City will fund the cost to upsize the watermain from the 8 -inch required to serve the adjacent development to a larger 12 -inch trunk main which will provide adequate service for further extension and supply. Feasibility Report Oneka Lake Boulevard and Harrow Avenue Street Improvement Project City of Hugo, MN WSB Project No. R-010893-000 Page 7